Zions delivered a solid QQ2 2024 showing a favorable margin trajectory and resilient profitability amid ongoing rate uncertainty. Net interest income remained the dominant revenue driver, supported by a 4 basis point linked-quarter NIM expansion and a 6 basis point year-over-year improvement as asset repricing outpaced funding costs. The quarter featured a notable operational milestone—the successful completion of the core conversion to Bancorp/TCS—creating a more streamlined data model for loans and deposits, real-time analytics, and enhanced digital capabilities. On the credit front, charge-offs remained modest (annualized 10 bps), but the loan portfolio experienced a notable uplift in classified and criticized balances driven largely by C&I exposures and CRE-related moves in multifamily. Management framed the improvement in tangible book value (up 20.1% YoY) and a CET1 ratio of 10.6% as evidence of a strengthened capital base capable of supporting ongoing investment in technology, deposits, and capital markets expansion.